fbi. before the kidnapping of hannah anderson, and you see pictures of her holding a little child and hugging everyone, that the mother christina and the brother, ethan anderson, were killed by dimaggio. so we're keeping a close watch on this funeral service. we'll keep you posted. time now for "your money." part-time jobs, a full-time worry for millions of american families. i'm christine romans. this is "your money." only in america can you grow talent like this. we like to think of america as innovation nation. but the numbers reveal a slogan that should read, "part-time america." call it the do you want fries with that economy? part-time jobs have exploded, nearly doubling since 2007. 8.2 million americans who would rather have a full-time job punching the time clock

part-time instead. president obama admits there is more work to do, but is his signature achievement, obamacare, partly to blame? >> more companies have said because of this law they'll have to shift full-time workers to part-time. >> reporter: team retailer now the latest company demoting some full-time workers to part-time not because of obamacare, it's just good business. the teamsters sending a letter to world leaders saying they could destroy the foundation of the 40-hour work week that is the backbone of america middle class. a middle class in trouble with 14,000 other americans forced to take part-time gigs since march. whatever the reason, the numbers don't lie. is america becoming a nation of part-timers? those are the numbers, but let's get personal. dolly martinez works two part-time jobs. she hasn't been able to find a full-time position since she graduated from college in 2009.

>> i usually wake up between 6:30 and 7:30, and then, of course, i would head over to the coffee shop first. that's usually an 8:00 to 2:00 shift. and then, of course, i would have like a 10-minute break, which isn't enough. and then, of course, i'll have an hour break from 2:00 to 3:00 going to my next job, and i'll work from 3:00 to 9:00 but that job will give me a 30-minute break. after that i get done about 9:00 and head home. >> she makes about $1500 a month. dan gross is the business editor for "newsweek" and the daily beast. dan, americans are just like dolly. they're asking, where is my recovery? median income has fallen 4.4%, just over $52,000, since the recovery began. since the recovery began. can america lead if the kind of

jobs are dolly jobs. >> the short answer is no. we have a job crisis and a wage crisis. there are 7 million more private sector jobs than there were a few years ago, but they're not paying more. they're not paying more because companies don't feel they have to. there is a lot of slack in the labor market, they're able to move people around, and this is also why they're not making people full-time. they don't feel the pressure to treat these employees, especially in the service industries like retail, to give them the terms they want. these people would prefer to have full-time jobs. >> dolly martinez also told us she has $15,000 in student loans. the president is pushing to make college more affordable. listen. >> we can't price the middle class and everyone working to get into the middle class out of a college education. >> do you agree with him on college affordability? >> i certainly agree that college costs way, way too much, christine. i have two kids in college, so

it is killing me financially. but i think the solution is not to keep throwing more and more federal dollars at these universities, i think the universities are the biggest scam going in america. there is no reason a college education should cost 30, 40, $50,000 a year. and by the way, i think there is good news on this score. i think you're going to see more and more people moving toward on-line education, cutting these costs of colleges. it circles back to what you were just talking about, christine. if people's salaries and wages are falling, how in the world can they afford to send kids to school when it's taking up more than half of their income? >> the one thing is, $26,000 in student debt, you can afford to pay that back if there's a job on the other end. but if we are part-time america, that investment that we are encouraging kids to take just doesn't make any sense. >> you know what is the saddest part of the story you were talking about in the nation, and there's no doubt statistics document that. what's really disturbing is when you talk to those burger flippers and the people behind

the counter at mcdonald's, it's amazing how many of them do have a college degree. that's the real tragedy here. even people graduating from college can't find that, you know, job that's going to lift them up into the middle class. >> and we know that the average age of a fast food worker is like 29, so these people with college debt want to move forward and they're stuck in these jobs. alex badetsky out with this video urging every one of us to buy american. >> if each of us spends just 5% more on things made in america, economists say we will create a minimum of a million new jobs for americans. >> is that what we need to do? is america's desire to chase cheap one of the reasons we only have jobs selling things, we're not making stuff. is that part of the sflob. >> actually, our import and export is down 20% in the last couple years. a lot of it has to do with now

produce a lot of energy, oil, natural gas, our own electricity, we're using a lot less imported fossil fuels, and north dakota has an employment rate of 20%. we're eating a lot more of what we grow, energy comes increasingly from here. and walmart and ge talking about how walmart was buying more light bulbs and ge is making them at home. at the margins, some of those jobs are starting to come back. but yes, if we made a conscious effort to consume more american stuff, obviously we would put more people to work. >> thank you both. have a great weekend. as far as making college more affordable, president obama wants the students to get a better return on their college investment. we want to take a closer look at why costs are climbing and whether this president's plan can stop that relentless rise.

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the middle class but that gateway is becoming much narrower. we already know that there is higher employment, but students are leaving class with this. two-thirds are leaving college with debt, an average amount of $26,000, and all that debt adds up. >> our economy can't afford the trillion dollars in outstanding student loan, that much of which may not get repaid because students don't have the capacity to pay it. >> so why are american students being driven into debt? rising prices. the cost of attending a four-year public college is up a whopping 104%. that's in response to cuts from the state and local government. it's putting more of the burden on students. the sticker price for a four-year private college, up a more modest 60%. it's true, colleges are offering more financial aid to offset rising tuition. more than 20% of students get some sort of financial aid from their school, an average of $6400 per student. that's on top of student loans

and federal grants. but that aid is putting a strain on school budgets, forcing tuition prices higher. the average sticker price today for four years of tuition at a public college, $38,000. that's a bargain compared to 127,000 for a private college. but for a child born today, it could be three times that. $108,000 for public school, more than $360,000 for private college. unbelievable. so as states, families ask colleges struggle to pay the bills, president obama wants the federal government to help. after speaking to students at the university of buffalo, president obama sat down with our very own chris cuomo and outlined his college plan. >> we want to create a new system for colleges so parents and students know what schools graduate kids on time, are a good value for the money, lead

to good jobs, because right now the rating systems -- the commercial rating systems tend to just focus on what's the most selective school or the most expensive school or has the nicest sports facilities. >> return on investment. nick newman is a columnist for financial systems. could it help? could people make better choices for how much money they're borrowing at which school and what they'll get out of it? >> i think it could. rehear all these plans out of washington. almost all of them go nowhere because it requires democrats in congress to agree and actually pass something. this would be the department of education, which is already collecting this kind of data from colleges, basically putting this into a format that allows you to compare schools. what it will do is make consumers better shoppers for college. so you will have more tools that will help you figure out, where do you get the best return on your investment? you said that before, i think that's exactly the way people need to be thinking about college education.

it's an investment. would you invest your retirement savings in something if you had no idea what the return was? you wouldn't. >> i think a lot of families don't think about it early enough. it's about four years we showed you the numbers, so for four years in a row, you would buy a new car. you would go insane if you had to buy a new car four years in a row. there are also kids buying mercedes when they can only afford to get a used car. >> people think if i go to more of a name brand school that might cost two or three times as much as a state school, that might benefit me in the job market in the future. but does it? we honestly don't know if going to a name brand school that sounds good actually helps you get a job and earn more money. this kind of information will help people -- it's not going to give you every answer you want, but it's going to make you think more clearly and thoughtfully about how to spend this huge bucket of money. >> i think you have to go to

classes with education under your belt. 25% of kids are ready in all the subjects when they go to college. it means you're spending borrowed money to do what we should have done in high school. i just feel like there's this immedia mediocrity that's accepted. it's just not going to fly, it just isn't. >> all this attention that the rising cost of college has produced is there are new ways to get through college without so much debt, perhaps without any debt. some schools are starting to offer three-year degrees, for instance. >> i love those. >> so you go to school in the summer. if you think about it, why do college students take off the summer, anyway, to relax at the beach or get a job as a lifeguard? is that necessary? no, it's not, really. there are ways to use new on-line tools to take some of your courses that way. another thing people can do, go to community colleges to get those basic credits, make sure they can transfer into another school and then do your last two years and get that degree from the name brand school. there are a lot of strategies for -- >> or you can take those

community college credits while you're still in high school in order to get you ready. be careful about the college credits, they do transfer where you want to go because sometimes kids get stuck on that. tl there are a lot of options, but it means being 17 years old and being more strategic, and we know they're not. >> teenagers are not financially literate people, so what does that mean? someone needs to get involved, which means parents. parents need to apply all the financial smarts they have. this is your second biggest investment, your house being the first and your car being the third. i'm not sure that's true. >> you can pay that back. that is actually an amount of money you can pay back. it's these kids that have 60, 70 and 80 that i worry about so much. chris, nice to see you again. last year americans spent $15 billion on video games. halfway around the world, koreans spent 17 billion on

private tutors for their kids. what we need to change to keep our place in the global economy. that's after the break. [ sighs ] ♪ ♪ have you ever, think ♪ ooohhhh, oh, oohh ♪ ♪ perfect work of art ♪ i knew right from the start ♪ i was sent here for you ♪ we were made to love [ male announcer ] the all-new 2014 chevrolet impala. made to love. [ male announcer ] the all-new 2014 chevrolet impala. can youlyric can.aid do this? lyric can. lyric can. lyric by phonak is the world's only 24/7, 100% invisible hearing device. it's tiny. but that might be the least revolutionary thing about lyric. lyric can be worn 24/7 for up to four months, without battery changes. call 1-800-414-5999 for a risk-free trial. cookie: there's absolutely no way anyone can see it even

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the smartest kids in the world are not here in america. the u.s. spends more on education than almost every other developed country. what do we get for our money? u.s. high school students rank 31st in math and 23rd in science versus other developed countries. this is according to the highly regarded pisa rankings. our education system has barely made any progress in the last half century. education levels can drastically change for better or worse, nations like finland, south korea and canada have made huge gains in international test scores where norway has recently fallen. amanda ripley is the author of the incredible book, "the smartest kids in the world and how they got that way." this book is for everyone in the

education debate in the world, especially this country. you've been around the world, you looked at top-performing countries. you collected data on all this, which is so important, because so much what happens in education are opinions ask feelin -- and not data. you also enlisted the help of some field agents. you got people studying abroad in poland. they noticed a difference there. >> the first day of school they were wearing black tie, and it was very formal. you could tell people took their education a lot more seriously here. >> the students care here. they see how the reaction of what they do now will affect them. it's more real to them. >> we are 31 in math, 23rd in science. we only get 2,300 days in school to prepare our kids for a lifetime. what do we need to do differently? >> you know, one of the most exciting things about this is that the smartest countries in the world were not always so

smart, so change is possible. it sometimes feels like it's impossible, but one thing that all of these countries did was they made school harder. it sounds really simple, but in every conceivable way, they made it much harder to become a teacher, they made the material more challenging and the testing and the homework and everything was just of a more rigorous, higher quality. so it was quality over quantity. >> and the information you got from these embedded students is just amazing. another one you shadowed, a kid named eric, he went from an affluent suburb to south america. they actually have raves conducted to make sure people obey the 10:00 study curfew because students are so ambitious. >> i really like how koreans teach math because it's so much more integrateive.

they were learning algebra in trigonometry. >> eventually the stress got to eric and he dropped out. how do you compare that to the moonbound schools? >> definitely america is in the moonbound category in most places, so when we think kids are taking high-stakes tests, they're nothing like what asia is dealing with. a much healthier model is a place like finland where when the kids are in school, they're doing pretty high-quality, challenging work and they've got quality-educated teachers who getting into that school is as good as getting into a quality school in the united states. >> and 10% of people who want to be teachers can be teachers. a very respected profession. is that, too, you've got really

dynamic teachers and not everyone can do it? >> right, and this was something i knew would be important, but i was surprised at the ways it affects kids themselves. obviously when you have very highly educated people becoming teachers, that is great because they have a fluency for teaching. >> a recent study in this country found that 18% of teacher preparation programs taught all the most widely accepted practices here. are we failing to teach our teachers properly? >> this has been a longstanding challenge in this country and also many countries around the world where we give lip service to say that education is important but we're not very rigorous in the way we train teachers in most places. so most education colleges admit that almost anyone who is interested in studying education, and we end up educating twice as many teachers as we need as a result. >> why don't we care about it?

we talk about it, we care about it, there are a lot of opinions about education reform. but you say something in the book that's so interesting that wealth has replaced -- we don't need rig or in education because we have wealth. we've always been a wealthy country. and that's starting to change, and the patterns of wealth are starting to change, and it makes education that much more important. >> historically, we haven't been able to produce millions of students who can think critically in math, reading and science. we didn't need to do that. but now we're getting to a place where those skills are becoming more valuable than gold, and we really do know now that those international test scores you cited, there is nearly a 1 to 1 match between long term gdp growth and increases in those scores. >> really interesting book, "the smartest kids in the world." amanda ripley is the author. it's so nice to meet you and i think it's so well done. i love the kids who were your super spies in there to help you navigate through it. thank you so much. nice to meet you.

>> thank you. think sports cars are sexy? it turns out big spenders actually might be a big turnoff. that's next. ♪ [ female announcer ] pop in a whole new kind of clean with tide pods. three chambers. three times the stain removal power. pop in. stand out.

yahoo is back on the map. according to comscore, yahoo sites were the most visited in the country in july. it's the first time yahoo beat google in more than two years. for more stories that matter to your money, give me 60 seconds on the clock. it's money time. it's back to school but not for everyone. government spending cuts known as the sequester hit head start programs, eliminating 57,000 spots for preschoolers starting in the coming weeks. you might think flashy cars ask clothes are the key to love, but it turns out saving is sexy. a new study finds people are more attracted to savers than big spenders whose behavior might seem wasteful. if you're a genius, you might use google. they tend to live in houses with

above average income. a high-end version of the budget iphone. it could boost sales of iphones in china, the largest selling area. the tesla is the highest rating for crash tests. it's not only the highest score but the only score like that ever. kodak is coming back, but don't expect to see those iconic rolls of film in stores. it will focus solely on printing. he's changed the world once and now mark zuckerberg wants to do it again. he has an ambitious plan to bring internet access to anyone anywhere in the world. but he's not the only techie with an idea. look at the wacky projects with